BUSINESS DIGEST ||Published: 1/19/17 @ 12:00
New bank name
On Jan. 31, the legal name of a local bank will change from Home Savings and Loan of Youngstown to Home Savings Bank due to a change in the banking charter. Home Savings will convert from an Ohio chartered savings bank to an Ohio chartered commercial bank with trust powers, and United Community Financial Corp., Home Savings’ holding company, will become a bank-holding company.
“We are changing our name to Home Savings Bank to better reflect the robust consumer, wealth and commercial services we offer today,” said Gary Small, Home Savings president and CEO. “The combination of local, personalized service with top-notch consumer and commercial banking, asset management, private banking, trust and insurance services allows us to be highly competitive. We are proud of our strong consumer deposit and lending history and now Home Savings is better positioned as an even stronger, full-service bank.”
F.N.B. Corp. on Wednesday announced that its board of directors declared a quarterly cash dividend of $18.13 per share on F.N.B. Corp.’s Non-Cumulative Perpetual Preferred Stock, Series E. The dividend is payable Feb. 15 to shareholders of record as of the close of business Jan. 31.
Dominion Resources, parent company of Dominion East Ohio, announced that it will once again provide $1 million in environmental grants this year through its charitable arm, the Dominion Foundation. The competitive program is designed to support specific short-term projects by nonprofits and K-12 schools working to improve the environment and provide environmental education experiences in communities served by Dominion companies.
Eligible organizations in Connecticut, Maryland, North Carolina, Ohio, Rhode Island, South Carolina, Utah, Virginia, West Virginia and other areas within Dominion’s footprint can submit applications through March 1. Recipients will be announced in April.
For complete details and to submit an online application, please visit: www.dom.com/envirogrants.
Vallourec, a global tubular solutions for the energy markets, recently announced more news about its transformation. Vallourec is the parent company of Vallourec Star and VAM USA of Youngstown.
Jean-Pierre Michel will leave the management board March 31, which will subsequently comprise Philippe Crouzet and Olivier Mallet. Michel will retire at the end of the year.
The company will have two new central departments: the Development and Innovation Department will design and implement the development strategy of the product lines and the Technology and Industry Department will design the group’s industrial strategy, aiming to continue to improve its cost base.
Selected local stocks
Alcoa Inc., .1234.822.18
Aqua America, .71 30.15-0.34
Chemical Bank, .2723.34-0.36Community Health Sys. 6.82 -0.29
Cortland Bancorp, .2817.800.0
Farmers Nat., .1613.700.10
First Energy, 1.44 30.76-0.39
First Niles Financial, .1210.25-0.29
FNB Corp., .4815.260.09
General Motors, 1.5237.470.15
General Electric, .9231.24-0.03
Huntington Bank, .28 13.150.20
JP Morgan Chase, 1.9283.940.39
Key Corp, .3418.140.43
Macy’s, 1.51 29.43-0.47
Parker Hannifin, 2.52 144.390.77
Simon Prop. Grp., 6.60186.571.24
United Comm. Fin., .12 8.280.07
Selected prices from Wednesday’s 4 p.m. close.